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Construction gets under way in four to six months on luxury apartment complexes, totaling $65 million, in Ft. Worth and Houston.

The Sterling Cos. of McKinney, TX, is spearheading the developments of the combined 826 units under a fee development agreement with ARL, a regional REIT, James Clifton, Sterling’s president told GlobeSt.com. The general contractor for all of the projects is Global Contractors LLC in Houston, continuing a 24-year relationship between the developer and builder. The three projects will deliver in 2002.

The 250-unit Ft. Worth project, encompassing at least 250,000 sf, will be situated in Marine Creek Lake while 288-unit developments are ticketed for Houston’s Mason Park and land at the intersection of W. Little York and 6th St. All of the projects will be similar in design, but the higher-end luxury units have been earmarked for Ft. Worth. That project carries a $27 million price tag, says Clifton. The Houston projects will cost about $19 million each and entail more than 288,000 sf each. Terry Molik Architects of Houston is designing the complexes, which feature units with state-of-the-art luxury interiors, including high-speed Internet hookups, and property amenities such as an executive high-tech conference room and virtual office. The developments are part of a growing portfolio of luxury complexes in prime markets that Sterling has initiated in the past decade. The developer also is launching high-end complexes in Albuquerque and Ft. Myers, Fla.

Clifton acts as developer while relying upon decades-old relationships with his builder and architect to bring the projects to fruition. “I really couldn’t do what I do without them,” he says, citing on-time delivery as critical factors for being able to initiate four to eight such developments per year.

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